Shopping center shopping center
This is because super regional centers typically have 3 or more anchors and at least , square feet of retail space. A retail shopping center is defined as a group of retail and other commercial establishments that is planned, developed, owned, and managed as a single property with on-site parking.
They also draw on larger population bases, attracting visitors within a 5 to 25 mile radius of the property. They generally offer 80, to , square feet of retail space and draw customers from a primary trade are of 5 to 15 miles. Malls are defined as enclosed properties with a central walkway where retail storefronts face one another. They normally offer , to , square feet of retail space featuring two anchor stores.
Super regional centers are larger, have more anchor stores, and draw from a larger primary trade area. Retail storefronts are connected by common walkways and usually configured in a straight line, L, or U shaped layout. Neighborhood center retailers mainly offer day to day needs including groceries, convenience items, personal services, snacks, pharmaceuticals, and other health related items.
Based on these two traditional configurations, there are 8 different types of retail shopping centers. Community center anchors include grocery stores, super drugstores, discount department stores, and in certain markets, home improvement stores. With a broader focus, the community center draws customers from a primary trade are of 3 to 6 miles.
Fashion centers, similar to outlet centers, are defined by high fashion and luxury brand retailers. Simon Property Group is the largest owner and operator of regional centers in the United States.
8 Types of Retail Shopping Centers
In most parts of the country, the local mall is the textbook definition of a regional center. The key distinction between super regional centers and regional centers are size and trade area. All of these answers are correct because the definition of a retail shopping center is incredibly broad. One of the great challenges facing the retail property management industry is how these properties will be repurposed in the future.
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These centers feature retail locations for globally recognized fashion brands such as Louis Vuitton, Gucci, Hermès, Chanel, and Burberry. Due to the rise of e-commerce, many regional centers are considered troubled, unhealthy, or dying malls. Of the 8 types of retail shopping centers, community centers come in the most shapes and sizes.
Both configurations include on-site parking for shoppers. The most common type of shopping center is the appropriately named neighborhood center.
8 Types of Retail Shopping Centers - Property Manager Insider
The traditional draw to regional centers are anchor stores. In most cases, a large percentage of the general merchandise available in regional centers is apparel.
These properties use the outdoor straight line strip configuration, typically feature 1 anchor store, and generally range from 30, to , square feet. Strip centers do not include enclosed hallways. The largest type of shopping center are super regional centers.
United States shopping centers
Many community centers featuring discount department stores are also referred to as discount centers. The most common anchor of the neighborhood center is a grocery store. Click on one of the 8 types of retail shopping centers to learn more about it:. Both are owned by Triple Five Group. If someone described an indoor shopping destination with multiple large anchor stores, they would also be correct.
One third of neighborhood centers have drugstore anchors. Community centers are larger versions of neighborhood centers characterized by a wider range of retail stores. A small strip of 5 or 6 stores would also be acceptable example of a retail shopping center.
If someone described a shopping center as a strip mall with a grocery store, they would be correct. These properties are enclosed malls, typically offer , to , square feet of retail space, and have at least 2 anchors. They draw customers from a primary trade area of 5 to 15 miles. Defining characteristics of each include the number of anchor stores, types of anchors, square footage, and the primary trade area where they draw customers.
Retail shopping centers are typically configured as malls or strip centers. If you asked five people to describe a shopping center, chances are you would end up with at least 2 or 3 widely varying answers. Regency Centers is one of the largest managers of community centers in the United States.